ANZ-Roy Morgan Consumer Confidence virtually unchanged at 112.2 but down in Sydney (-4.6%) as Melbourne recovers (+2.4%)

Current financial conditions

• Now 28% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year and 25% (down 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

• In addition, a plurality of 38% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to only 13% (down 3ppts) that expect to be ‘worse off’ financially.

Current economic conditions

• Just under a fifth of Australians, 19% (down 2ppts) expect ‘good times’ for the Australian economy over the next twelve months while 15% (up 2ppts), expect ‘bad times’.

Future economic conditions

• In the longer term, over a fifth of Australians, 21% (down 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (unchanged) expecting ‘bad times.

Time to buy a major household item

• An increasing plurality of Australians, 45% (up 3ppts), say now is a ‘good time to buy’ major household items while 24% (unchanged) say now is a ‘bad time to buy’.

"Headline consumer confidence barely moved last week, dropping only 0.2% from the week before. With new COVID-19 cases rising quite rapidly in NSW over the week, confidence in Sydney fell 4.6%, while in regional NSW it fell 6.6%. The impact of this was largely offset by ongoing recovery in confidence in Melbourne and further gains in confidence elsewhere. Recent experience suggests sentiment will respond to case numbers and lockdown measures in the coming weeks: if case numbers remain high, confidence is likely to deteriorate, but if they come back under control quickly and restrictions look likely to be short-lived sentiment is likely to rebound."